The Ceramic Matrix Composites Market is driven by Rapid growth in the automotive sector and CMC with nanotechnology.
PUNE, MAHARASHTRA, INDIA, January 31, 2020 /EINPresswire.com/ — The “Global Ceramic Matrix Composites Market to 2027 – Analysis and Forecasts by “Product (Oxides/Oxide, Carbon/ Silicone Carbide Silicon Carbide/ Silicon Carbide, Carbon/ Carbon); End-use Industry (Aerospace & Defense, Energy And Power, Automotive, Industrial, Others)” The scope of study involves understanding on the factors responsible for this growth of ceramic matrix composites market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant ceramic matrix composites players in the market and their key developments.
The global ceramic matrix composites market is accounted to US$ 8,560.0 Mn in 2018 and is expected to grow at a CAGR of 9.1% during the forecast period 2019 – 2027, to account to US$ 18,485.0 Mn by 2027.
North America accounted for the highest share in the global ceramic matrix composites market.
The major players in the ceramic matrix composites market include COI Ceramics, Inc., General Electric Company, Lancer Systems, SGL Carbon, Rolls-Royce Plc, CoorsTek, Inc., Applied Thin Films Inc., Ultramet, CFCCARBON CO,. LTD, and Matech, among others.
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Over the forecast period, the commercial aerospace sector is also expected to gain significant movement. Rigorous research and development activities by the United States Environmental Protection Agency (USEPA) for developing renewable energy sources are expected to create lucrative opportunities for CMC market in the region. Further, North America region has the existence of several ceramic matrix composite manufacturers such as COI Ceramics, INC. and Applied Thin Films, Inc., which are mainly focused on the adoption of various business strategies for increasing their production capacity.
Apart from the aerospace and defense industry, automotive, energy and power, industrial, and other industry is growing in the ceramic matrix composites market. In the automotive industry these composites help to withstand extreme temperatures, offer resistance to oxidation and corrosion, and can be used for materials requiring lightweight yet high strength. Therefore, the growing importance of ceramic matrix composites in the automotive industry, along with the rise in industrialization and urbanization, is promoting the growth of the market.
Ceramic matrix composites are increasingly being used in the power generation industry for hot components in gas turbine engines. These composites are known for their lightweight and high-temperature stability, which makes them ideal to be used in the power generation industry. With growing industrialization and increasing need for lightweight materials which could work in extreme temperatures, ceramic matrix composites have also found its application in industrial sector such as chemical industries.
The industrial sector including chemical industry has been developed and revolutionized entirely over the past decade due to the technological developments that have been carried out. The ceramic matrix composites are known to possess low wear rate and low friction co efficient as compared to the other metals that has favored for its application in the biomedical industry. The ceramic matrix composites are witnessing increasing demand from the dental sector also as they are used in the dental crown and bridge applications also.
The global ceramic matrix composites market by geography is segmented into five regions, including North America, Europe, Asia Pacific, Middle East & Africa, and South America. The North America region is expected to account for the largest share of the global ceramic matrix composites market in 2018, followed by Europe. In addition the, US and Canada are the two key countries in the Asia Pacific region which are expected to significantly drive the ceramic matrix composites market and also expected to continue its dominance in terms of CAGR throughout the forecast period from 2019 to 2027.
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• Progressive industry trends in the global Ceramic Matrix Composites Market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the global Ceramic Matrix Composites Market from 2019 to 2027
• Estimation of global Meter Data Management System demand across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the competitive market scenario and global Meter Data Management System demand
• Market trends and outlook coupled with factors driving and restraining the growth of the global Ceramic Matrix Composites Market
• Decision-making process by understanding strategies that underpin commercial interest with regard to global Ceramic Matrix Composites Market growth
• Global Ceramic Matrix Composites Market size at various nodes of market
• Detailed overview and segmentation of the global Ceramic Matrix Composites Market, as well as its dynamics in the industry
• Global Ceramic Matrix Composites Market size in various regions with promising growth opportunities
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